Alphabet's Q3 revenue and EPS miss estimates despite 103% cloud growth

Alphabet reported third-quarter revenue of $127.6 billion and earnings of $2.12 a share, both below the estimates cited by Yahoo Finance. Google Cloud revenue rose 103% to $30.7 billion, but advertising sales missed expectations. Capital spending more than doubled from a year earlier, leaving free cash flow negative for a second consecutive quarter. An equity-securities loss also reduced earnings per share by 55 cents.